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Investors & landlords
@remaven wrote:My question is - since both properties are under one LLC, can I use the losses from one property to offset the gains in the other when I file my taxes?
Yes, losses from passive activities and gains from passive activities are netted (i.e., they offset each other).
See https://www.irs.gov/publications/p925#en_US_2018_publink1000296645
‎August 16, 2019
8:36 AM